What’s procurement software?

What’s procurement software?

Procurement software, also known as purchasing software or e-procurement software, is a type of business software that helps automate and streamline the procurement process. It allows organizations to manage their procurement processes more efficiently, from identifying and selecting suppliers to tracking purchases and managing contracts.

Procurement software typically includes a range of features such as supplier management, sourcing, purchase order management, contract management, and invoicing. Some procurement software may also have additional features such as inventory management, spend analysis, and supplier performance tracking.

Using procurement software can help organizations save time and money by automating manual tasks, improving supplier selection and management, reducing errors and inefficiencies, and providing greater visibility and control over procurement processes. It can also help organizations comply with procurement regulations and policies, and improve the overall quality and consistency of their procurement activities.